VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.79 Million in TG Therapeutics, Inc. $TGTX

Key Points

• Virginia Retirement Systems invested approximately $1.79 million in TG Therapeutics, acquiring 49,731 shares during the second quarter.
• Institutional investors own 58.58% of TG Therapeutics, with Goldman Sachs and Wellington Management significantly increasing their positions in the company.
• TG Therapeutics reported $141.15 million in revenue for the last quarter but missed the earnings per share estimate by $0.15.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 49,731 shares of the biopharmaceutical company's stock, valued at approximately $1,790,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in shares of TG Therapeutics by 21.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,919,416 shares of the biopharmaceutical company's stock worth $75,683,000 after buying an additional 345,059 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of TG Therapeutics by 1,809.9% during the 1st quarter. Wellington Management Group LLP now owns 1,213,039 shares of the biopharmaceutical company's stock worth $47,830,000 after buying an additional 1,149,526 shares during the last quarter. Invesco Ltd. increased its holdings in shares of TG Therapeutics by 30.2% during the 1st quarter. Invesco Ltd. now owns 1,210,842 shares of the biopharmaceutical company's stock worth $47,744,000 after buying an additional 281,099 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of TG Therapeutics by 1.3% during the 1st quarter. Principal Financial Group Inc. now owns 841,011 shares of the biopharmaceutical company's stock worth $33,161,000 after buying an additional 10,827 shares during the last quarter. Finally, Driehaus Capital Management LLC purchased a new position in shares of TG Therapeutics during the 1st quarter worth approximately $30,545,000. Institutional investors and hedge funds own 58.58% of the company's stock.

TG Therapeutics Stock Performance

Shares of TGTX stock opened at $34.59 on Thursday. The company has a quick ratio of 2.96, a current ratio of 3.86 and a debt-to-equity ratio of 0.89. TG Therapeutics, Inc. has a 52 week low of $22.61 and a 52 week high of $46.48. The stock has a market capitalization of $5.49 billion, a PE ratio of 93.49 and a beta of 1.97. The firm has a 50 day moving average of $32.66 and a two-hundred day moving average of $35.00.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The biopharmaceutical company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.15). TG Therapeutics had a net margin of 13.31% and a return on equity of 26.05%. The business had revenue of $141.15 million during the quarter, compared to analysts' expectations of $147.76 million. During the same period in the prior year, the business earned $0.04 EPS. The business's quarterly revenue was up 92.1% on a year-over-year basis. TG Therapeutics has set its FY 2025 guidance at EPS. On average, research analysts predict that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other TG Therapeutics news, Director Sagar Lonial sold 20,852 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $32.24, for a total value of $672,268.48. Following the completion of the transaction, the director owned 94,061 shares of the company's stock, valued at $3,032,526.64. This trade represents a 18.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 10.64% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TGTX has been the subject of a number of research analyst reports. HC Wainwright initiated coverage on shares of TG Therapeutics in a research report on Monday, October 6th. They set a "buy" rating and a $60.00 price objective for the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of TG Therapeutics in a research report on Wednesday, October 8th. The Goldman Sachs Group raised shares of TG Therapeutics to a "hold" rating and set a $37.00 price objective for the company in a research report on Thursday, July 10th. Finally, B. Riley increased their price objective on shares of TG Therapeutics from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, September 17th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $49.00.

About TG Therapeutics

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.

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